Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/187953 
Authors: 
Year of Publication: 
2017
Citation: 
[Journal:] Future Business Journal [ISSN:] 2314-7210 [Volume:] 3 [Issue:] 1 [Publisher:] Elsevier [Place:] Amsterdam [Year:] 2017 [Pages:] 9-22
Publisher: 
Elsevier, Amsterdam
Abstract: 
This study investigates relationship between tourism and economic growth in India by considering the relative importance of financial development over the period of 1960-2014. The results of newly-developed Bayer and Hanck combined test indicate that tourism, economic growth and financial development are cointegrated. It is shown that the inbound tourism spurs economic growth in India both in long-run and short-run. In addition, the analysis indicates the presence of a long-run one-way Granger-causation running from tourism to economic growth. It is suggested that policies for attracting more international tourists should be promoted.
Subjects: 
ARDL model
Bayer and Hanck model
Economic growth
India
Variance decomposition
VECM
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

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